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IPO Fundraising Hits Record High in FY27’s First Half
Companies raised a record amount of money by selling shares to the public in the first half of FY27.
This happened between April and September 2026.
The total raised was more than Rs 1 lakh crore.
Big offerings and strong interest from large investors helped push the number higher.
Many companies that had delayed their IPOs also came to market.
Domestic investors, including people investing through SIPs, provided strong support.
However, high oil prices, rising US interest rates and geopolitical worries could make investors more cautious.
Experts disagree about whether the strong pace will continue, with some expecting more issues and others predicting more selective launches.
Mainboard and SME IPOs raised more than Rs 1 lakh crore during April-September 2026.
The total was 31% higher than the corresponding period of FY26 and the highest first-half fundraising on record.
Large offerings, strong anchor participation, domestic liquidity and deferred issues helped drive the increase.
Companies and shareholders raised Rs 67,382 crore through offers for sale, compared with Rs 10,536 crore a year earlier.
Market experts expect continued activity but warn that global risks could make future IPOs more selective.
- Who
- Companies launching mainboard and SME IPOs, along with shareholders selling stakes through offers for sale.
- What
- IPO fundraising exceeded Rs 1 lakh crore in the first half of FY27, setting a record.
- Where
- The Indian primary and stock markets.
- When
- April-September 2026.
- Why
- Large issues, strong anchor participation, domestic liquidity, record SIP contributions and the release of deferred IPOs supported fundraising.
Continued IPO strength
More selective market
Fundraising outlook
Continued IPO strength
Several large issues remain in the pipeline, and strong domestic participation could keep primary-market activity buoyant through the rest of FY27.
More selective market
Companies may defer offerings or reduce valuations if crude prices, US Treasury yields and global risk aversion remain elevated.
Impact of IPOs on wider markets
Continued IPO strength
Strong listing gains and investor demand show that the primary market continues to attract capital despite broader equity-market pressure.
More selective market
IPO activity may absorb liquidity from the secondary market, although experts said broader weakness was driven more by geopolitical concerns, foreign selling and macroeconomic pressures.
Approved IPO pipeline
Continued IPO strength
Regulatory approvals nearing expiry and healthy investor demand could push more companies to launch in the second half.
More selective market
Approval does not guarantee a launch because companies may wait if they cannot achieve their desired valuations.
Key facts
- IPO fundraising
- More than Rs 1 lakh crore in H1FY27.
- Year-on-year change
- 31% higher than H1FY26.
- Period covered
- April-September 2026.
- OFS fundraising
- Rs 67,382 crore in H1FY27, compared with Rs 10,536 crore in H1FY26.
- Major cited offerings
- National Stock Exchange and SBI Funds Management.
- Deferred offerings
- Several companies delayed after the West Asia conflict emerged in March and later returned to the market.
- Regulatory deadline
- The one-time extension for deferred issues expired on September 30.
Quotes
Gaurav Arora
Head of research at SAHI
“The rising crude prices and US Treasury yields could deter foreign investors. Against this backdrop, some companies in the IPO pipeline may defer their offerings, while others may need to recalibrate valuations to attract investors. Strong domestic participation and record SIP contributions offer some support, but they may not fully offset a prolonged period of global risk aversion.”
financialexpress.com
Sources
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